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BaTeLab Co., Ltd.
(2149)
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Rating:60Neutral
Price Target:
HK$30.00
â–¼(-30.36% Downside)
Action:Reiterated
Date:08/20/26
The score is primarily held back by weak cash conversion and persistently negative (and worsening) free cash flow, despite solid profitability and a reasonably strong balance sheet. Technicals are mixed with improving short-term trend but a weaker long-term trend, while valuation appears reasonable at ~15x earnings.
Positive Factors
Strong Profitability
High gross and net margins provide a durable earnings buffer and indicate the company retains meaningful pricing power. This profitability can support investment, strengthen resilience against cost pressure, and help preserve competitive positioning over the next several quarters.
Negative Factors
Persistent Negative Free Cash Flow
Persistent and worsening negative free cash flow means reported earnings are not translating into internally generated funding. This can constrain reinvestment, increase reliance on external capital, and make the business less resilient if elevated cash outflows continue.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
High gross and net margins provide a durable earnings buffer and indicate the company retains meaningful pricing power. This profitability can support investment, strengthen resilience against cost pressure, and help preserve competitive positioning over the next several quarters.
Read all positive factors
BaTeLab Co., Ltd. (2149) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.83B
Dividend YieldN/A
Average Volume (3M)22.82K
Price to Earnings (P/E)10.4
Beta (1Y)0.54
Revenue Growth12.30%
EPS Growth-14.46%
CountryHK
Employees102
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)2.38
Shares Outstanding18,000,000
10 Day Avg. Volume27,860
30 Day Avg. Volume22,823
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)1.86
Price to Sales (P/S)4.09
P/FCF Ratio-21.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$52.75Price Target Upside22.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.07
Revenue Forecast (FY)HK$690.00M
BaTeLab Co., Ltd. Business Overview & Revenue Model
Company Description
BaTeLab Co., Ltd. focuses on the research, development, and commercialization of analog integrated circuit (IC) patterned wafers, which are crucial for packaging and testing solutions across China. The company boasts a comprehensive catalog of pow...
BaTeLab Co., Ltd. Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
76
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 623.81M | 584.12M | 578.81M | 463.88M | 409.93M | 212.71M |
| Gross Profit | 326.93M | 302.25M | 306.92M | 257.11M | 231.79M | 144.63M |
| EBITDA | 161.44M | 124.39M | 148.35M | 119.02M | 99.00M | 60.01M |
| Net Income | 150.87M | 118.85M | 166.60M | 109.16M | 95.26M | 56.97M |
Balance Sheet | ||||||
| Total Assets | 1.93B | 1.84B | 1.61B | 1.27B | 668.62M | 435.55M |
| Cash, Cash Equivalents and Short-Term Investments | 507.76M | 600.30M | 636.02M | 550.84M | 162.51M | 146.78M |
| Total Debt | 384.54M | 436.23M | 325.22M | 182.63M | 102.08M | 36.89M |
| Total Liabilities | 542.80M | 558.22M | 603.81M | 432.70M | 224.20M | 67.87M |
| Stockholders Equity | 1.39B | 1.28B | 1.01B | 838.23M | 395.83M | 300.57M |
Cash Flow | ||||||
| Free Cash Flow | -327.06M | -110.68M | -20.34M | -13.40M | -34.68M | -33.62M |
| Operating Cash Flow | -137.34M | 19.67M | 13.56M | 30.28M | -12.91M | 10.03M |
| Investing Cash Flow | -150.09M | -105.83M | -63.95M | -41.70M | -15.48M | 19.60M |
| Financing Cash Flow | 148.88M | 11.26M | 127.56M | 400.68M | 62.63M | 104.94M |
BaTeLab Co., Ltd. Technical Analysis
Negative
43.08
Price Trends
32.55
Negative
32.09
Negative
35.85
Negative
Market Momentum
-1.08
Positive
32.69
Neutral
20.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2149, the sentiment is Negative. The current price of 43.08 is above the 20-day moving average (MA) of 31.47, above the 50-day MA of 32.55, and above the 200-day MA of 35.85, indicating a bearish trend. The MACD of -1.08 indicates Positive momentum. The RSI at 32.69 is Neutral, neither overbought nor oversold. The STOCH value of 20.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2149.
BaTeLab Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | HK$1.83B | 10.35 | 11.29% | ― | 12.30% | -14.46% | |
58 Neutral | HK$38.73B | 47.30 | 13.88% | 0.29% | 21.04% | 115.77% | |
56 Neutral | HK$49.62B | 32.41 | 8.50% | 1.78% | 21.38% | 414.20% | |
54 Neutral | HK$180.80B | 153.60 | 1.53% | 0.81% | 24.54% | 276.41% | |
51 Neutral | HK$514.54M | -16.41 | -2.79% | 1.85% | -6.32% | -159.42% | |
41 Neutral | HK$51.50M | -2.05 | -18.17% | 3.19% | -17.27% | 74.09% |
* Technology Sector Average
HK:2149
BaTeLab Co., Ltd.
29.00
-26.20
-47.46%
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Shanghai Fudan Microelectronics Group Co
23.22
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-48.14%
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Solomon Systech (International) Ltd.
0.21
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-18.75%
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Niche-Tech Semiconductor Materials Limited
0.07
-0.07
-49.31%
BaTeLab Co., Ltd. Corporate Events
BaTeLab Boosts Interim Profit and Margins on ML-Driven Chip Design
Aug 28, 2026
BaTeLab Co., Ltd., a PRC-incorporated joint stock company listed in Hong Kong, serves the broader industrial sector with chip design solutions that use semi-automated, machine learning-based methodologies. Its offerings target key industrial custo...
BaTeLab Shareholders Approve Amendments to Articles at 2026 EGM
Aug 24, 2026
BaTeLab Co., Ltd. held its first extraordinary general meeting of 2026 on 24 August in Nantong, Jiangsu Province, with shareholders and proxies representing about 68.67% of the company’s 63 million issued shares attending. The meeting was co...
BaTeLab Flags Double-Digit Revenue and Profit Growth on Industrial Chip Demand
Aug 18, 2026
BaTeLab Co., Ltd. has issued a positive profit alert for the six months ended 30 June 2026, projecting revenue of RMB320.87 million to RMB335.46 million, up about 10% to 15% year-on-year, and net profit of RMB100.30 million to RMB108.01 million, a...
BaTeLab Sets Board Meeting to Approve 2026 Interim Results
Aug 18, 2026
BaTeLab Co., Ltd., a PRC-incorporated joint stock company listed in Hong Kong, has announced that its board will convene on 28 August 2026 to review and approve interim financial results for the six months ended 30 June 2026. The company, led by c...
BaTeLab Moves to Amend Articles to Support H-Share Conversion and Governance
Aug 7, 2026
BaTeLab Co., Ltd., a PRC-incorporated joint stock company listed in Hong Kong, has a board structure that includes executive, non-executive and independent non-executive directors, aligning its governance with prevailing listed-company practices. ...
BaTeLab Calls August EGM to Approve Amendments to Articles of Association
Aug 7, 2026
BaTeLab Co., Ltd. has called its first extraordinary general meeting of 2026 to be held on 24 August in Nantong, Jiangsu Province, for shareholders of both its Hong Kong-listed H shares and unlisted domestic shares. The principal agenda item is a ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.